Income Tax : Analyze the tax implications of share splits and amalgamations in India. Understand capital gains treatment, period of holding, an...
Income Tax : Understand capital gains tax on equity and mutual funds. Learn about short-term and long-term gains, tax rates, exemptions, and st...
Income Tax : Section 54B of Income Tax Act provides relief to individuals or HUF who have transferred their agricultural land and wants to inv...
Income Tax : Step-by-step guide to filing ITR-2 online for FY 2023-24, covering salary income, capital gains, and other sources of income. Ensu...
Income Tax : Learn about capital gains exemption on the sale of residential houses under Section 54 of the Income Tax Act, including conditions...
Income Tax : Taxation Laws (Amendment) Bill, 2021 Key Features of Taxation Laws (Amendment) Bill, 2021 1. Provides that no tax demand shall be ...
Income Tax : The government introduced the Taxation Laws (Amendment) Bill, 2021, which seeks to withdraw tax demands made under the Finance Act...
Income Tax : 4 Major Tax Exemptions to Startups includes Income Tax Exemption on profits under Section 80-IAC of Income Tax (IT) Act, Tax Exemp...
Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...
Income Tax : The Finance Act, 2015 has amended provisions dealing with indirect transfer of capital asset situated in India. The amendment prov...
Income Tax : ITAT Delhi rules that Section 50C deeming provisions cannot be applied to leasehold rights in the Shivdeep Tyagi vs ITO case....
Income Tax : Understand the implications of the Parulben Vijaykumar Patel vs ITO case from ITAT Ahmedabad. Detailed analysis and conclusion pro...
Income Tax : ITAT Bangalore dismisses valuation of bonus shares under Income Tax Act sec. 55(2)(aa)B. Detailed analysis of Zash Traders vs ACIT...
Income Tax : Section 54F amendment restricting exemption to one residential house was prospective, applying only from April 1, 2015 and Violat...
Income Tax : Discover how the Madras High Court ruled on treating multiple flats as a single residential unit under Section 54F. Detailed analy...
Income Tax : The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), issued Notification No. 44/2024-Income-Tax on May 24, 2...
Income Tax : The Government of India in IEBR for FY 2022-23 have not mandated NHAI to raise funds from the market. Therefore. NHAI shall not is...
Income Tax : The Finance Act, 2021 amended clause (10D) of section 10 of the Act by inserting fourth to seventh provisos. Fourth proviso provid...
Income Tax : CBDT vide Notification No. 8/2022-Income tax notifies Rule 8AD Computation of capital gains for the purposes of sub-section (1B) o...
Income Tax : No tax demand shall be raised in future on the basis of the amendment to section 9 of the Income-tax Act made vide Finance Act, 20...
Section 54- Deduction on the capital gains arising from transfer of long term capital asset i.e. Residential House if an assessee with in period of one year or two years after the date on which transfer took place purchased any residential property or with period of three years after that date constructed any residential property in India Irrespective of any threshold limit.
Rupesh Vyas Vs ACIT (ITAT Indore) Feeling aggrieved by appeal-order dated 20.09.2018 passed by learned Commissioner of Income-Tax (Appeals)-1, Indore [“Ld. CIT(A)”], which in turn arises out of assessment-order dated 15.12.2016 passed by the learned ACIT-3(1), Indore [“Ld. AO”] u/s 143(3) of the Income-tax Act, 1961 [the Act] for Assessment-Year 2014-15, the assessee has filed […]
As per the new section 50AA, the full value of the consideration received or accruing from the transfer, redemption, or maturity of a Market Linked Debenture will be deemed to be the capital gains arising from the transfer of a short-term capital asset.
Fifth continues budget by Finance Minister Smt. Nirmala Sitaraman is record for current Government. Till now maximum budget, i.e. 10 times were given by Late Shri Morarji Desai, 9 times by P. Chidambaram and 8 times by Pranav Mukharaji. If the current Government will continue in 2024 election and Smt. Nirmala Sitaramn, become the Finance […]
Intangibles have over the past couple of decades become an integral path for achieving accelerated business growth. A few decades ago, the valuation of a company was largely derived based on the tangible assets it owned, such as machinery, plant, raw material, etc. However, in recent times, intangibles such as software, data, intellectual property, etc. […]
Cost of acquisition or the cost of improvement shall not include the amount of interest claimed under section 24 or Chapter VIA.
‘Cost of improvement’ or ‘cost of acquisition’ of a capital asset being any intangible asset or any other right ( other than those mentioned in the said sub-clause or clause, as the case may be) shall be ‘Nil’.
It was an undisputed fact that investment made by the taxpayer in shares of its overseas subsidiary was made in Euro and redemption of such shares were also made in Euro. Thus, actual profit or loss on sale / redemption of such shares were to be computed in Euro only and thereafter, converted to INR for the purposes of Section 45 of the Income Tax Act.
Take advantage of Section 54 of the Income Tax Act of India get tax exemptions on capital gains when you invest in a new residential property
It has been noticed that a variety of hybrid securities that combine features of plain vanilla debt securities and exchange traded derivatives are being issued through private placements and listed on stock exchanges. It is seen that such securities differ from plain vanilla debt securities.
